BTC/USD technical analysis shows buy signal

BTC/USD daily graph

• BTC/USD daily graph charts a triangle pattern from which the market does a bullish breakout.

BTC/USD hourly graph

• BTC/USD to test the $3,440 resistance line while jumping off the $3,430 support line.
• 20-day simple moving average (SMA 20) crosses over with SMA 50 to indicate a buy signal.

BTC/USD 4-hour graph

• BTC/USD 4-hour graph trending above the SMA 20 curve to indicate a bullish market.
• The last candlestick is below the upper curve of the 20-day Bollinger band, which shows that the market isn’t as bullish as it should be.
• The moving average convergence/divergence (MACD) doesn’t indicate a proper momentum reversal.

Key Levels

• Resistance 3: $3,552.09
• Resistance 2: $3,504.10
• Resistance 1: $3,470.66
• Pivot Point: $3,422.67
• Support 1: $3,389.22
• Support 2: $3,341.23
• Support 3: $3,307.78